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Below are AI-generated insights on today's premarket moves, powered by MarketReader technology.

Thursday, September 17

Noteworthy macro moves today: US 10Y Treasury Bond Index +0.5%. S&P 500 Index (US) +1.3%. US 2Y Treasury Bond Index +0.1%. Noteworthy US mega-cap moves today: Oracle Corp (ORCL) +2.8%. Broadcom Inc (AVGO) +2.5%. SK Hynix Inc (SKHY) +2.4%.

Global equity indices are trading higher, with U.S. markets rebounding following a recent selloff after the Federal Reserve's interest rate hike decision on Wednesday, which raised rates by 25 basis points to a target range of 3.75% to 4%. This move was widely anticipated and reflects ongoing concerns about inflation, which remains elevated due to geopolitical tensions and rising energy prices.

In the U.S., initial jobless claims, released today, fell to 196k for the week ending September 12, significantly below market expectations of 208k and indicating continued strength in the labor market. Additionally, the Philadelphia Fed Manufacturing Index eased to 37.8 in September from 47.4 previously, though it still came in well above forecasts of 30.5.

Housing starts also showed weakness; they unexpectedly fell by 2.6% month-over-month to an annualized rate of 1.275 million units in August, below expectations of 1.31 million units and marking the lowest level since October last year. Building permits similarly declined by more than expected, falling to an annualized rate of 1.394 million.

In Europe, the Bank of England maintained its interest rate at 3.75%, aligning with market forecasts amid rising inflation pressures driven by ongoing conflicts in the Middle East that have pushed energy prices higher; UK inflation reached 3.1% in August.

iShares MSCI South Korea ETF (EWY) [+3.3%]
The iShares MSCI South Korea ETF is advancing in pre-market trading, driven by strong gains in technology stocks following positive earnings reports and favorable analyst ratings. Notable contributors include SKHY, which has seen significant upward movement, while SK Telecom Co Ltd has experienced a decline, recovering slightly from recent lows but remaining below its 20-day moving average. This performance aligns with a broader rebound in South Korea's KOSPI index, which has surged after four consecutive days of losses, influenced by ongoing volatility from U.S. monetary policy changes. The Federal Reserve's recent interest rate hike may also be impacting market sentiment, as the Nasdaq 100 Index is higher since the previous close, reflecting a potential correlation with the ETF's performance.

VanEck Gold Miners ETF (GDX) [+3.1%]
Agnico Eagle Mines Ltd and Newmont Corporation reported strong operational updates, with Agnico announcing the sale of its El Barqueño property and Newmont revealing robust second-quarter earnings along with regulatory approvals for future projects. These developments, along with positive movements in Barrick Mining Corp, have contributed to the VanEck Gold Miners ETF's advance in pre-market trading. Rising gold prices, influenced by the U.S. Federal Reserve's recent interest rate hike, are also supporting the ETF's upward movement. The Federal Reserve raised its target range by 25 basis points to 3.75% to 4.00%, marking its first increase since July.

iShares Silver Trust (SLV) [+2.9%]
Silver prices are advancing following the U.S. Federal Reserve's recent decision to raise interest rates by 25 basis points, the first increase in three years amid persistent inflation concerns. This development has contributed to a broader market response, with crude oil prices declining as supply-related worries eased. The rise in silver is also supported by its historical correlation with gold, which has gained since the previous close. In pre-market trading, the iShares Silver Trust is higher, reflecting this upward movement in silver prices. The fund remains below its 20-day moving average and near the lower end of its one-month range.

NBIS | +9.6% | +5.6B
Nebius Group NV | Information Technology
Nebius Group NV plans to raise prices for its GPU cloud services by about 20%, effective October 1, amid strong demand for AI computing capacity. This follows a previous price increase earlier this year and comes as the company's AI Cloud revenue surged 514% in the second quarter. The new pricing will see the hourly rate for the H100 GPU rise significantly, among other increases for various models. Reports indicate that Nebius' order visibility has extended beyond 24 months, reflecting robust demand for its services. In pre-market trading, the stock is advancing sharply, having gained notably since Wednesday's close.

GNRC | +29.7% | +4.0B
Generac Holdings Inc | Industrials
Generac Holdings Inc received positive endorsements from analysts, with Cantor Fitzgerald reiterating its Overweight rating and maintaining a price target of $333, while Canaccord Genuity raised its price target to $375, both in pre-market hours. This follows a significant long-term supply agreement with Amazon for backup generators, potentially worth up to $8 billion, which is expected to generate initial deliveries totaling approximately $2.4 billion between 2027 and 2028. The deal includes warrants for Amazon to acquire up to 1.69 million shares of Generac at an exercise price of $200.93 per share. As a result of these developments, Generac's stock is sharply higher in pre-market trading.

NOK | +5.0% | +3.1B
Nokia Oyj | Information Technology
Nokia Oyj announced an extension of its partnership with Microsoft to improve network automation by integrating Nokia Data Suite with Microsoft Fabric. This collaboration aims to enhance telecom operations by providing faster access to trusted data, thereby facilitating AI-driven processes for telecom providers. The initial focus will be on optimizing radio access networks with autonomous Voice over New Radio assurance and geo-experience capabilities. The solution is designed to support intelligent, agent-based operations across various network environments. Following this announcement, Nokia shares are trading sharply higher in pre-market hours.

TSEM | +6.6% | +1.6B
Tower Semiconductor Ltd | Information Technology
Tower Semiconductor Ltd is advancing sharply in pre-market trading, following reports that NewPhotonics has begun high-volume shipments of laser-integrated optical engine photonic integrated circuits for artificial intelligence infrastructure. The company is also set to showcase its silicon photonics and SiGe BiCMOS platforms at ECOC 2026, emphasizing applications in AI, telecom, and quantum computing. This positive momentum aligns with a slight uptick in the Nasdaq 100 Index, which is also higher after the U.S. Federal Reserve's recent interest rate hike. Tower Semiconductor's stock is trading significantly higher since Wednesday's close.

GFL | +7.4% | +1.2B
GFL Environmental Inc | Industrials
GFL Environmental Inc. is experiencing a notable increase in its stock price amid reports of a potential bidding war for the company. CEO Patrick Dovigi indicated he is open to considering offers to take GFL private at a valuation above its current trading levels, which has attracted interest from large infrastructure and core funds. This commentary follows a significant rise in after-hours trading on September 16. In pre-market hours, GFL's stock is trading sharply higher since Wednesday's close, despite the previous three sessions finishing lower.

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